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  • OTRI.USA
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American Shipper

Terminal operator renews lease at Port Everglades

Florida International Terminals will relocate its terminal within the south end of the port as part of the new 10-year deal in order to accommodate an expansion project at the South Florida port.

   Florida International Terminals, which recently celebrated its 10th anniversary, has renewed its lease at Port Everglades for another 10 years, with two five-year options.
   The Everglades port authority said the deal is worth about $57 million in revenue.
   FIT was formed in 2004 by Latin American port operators SAAM and AGUNSA, both linked to Chilean steamship companies CSAV (now part of German carrier Hapag-Lloyd) and CCNI (acquired this year by Hamburg Süd).
   The 36-acre terminal moved 156,045 TEUs in fiscal year 2015, ended Sept. 30, double the amount it moved at the start of business in 2006.
   Based upon FIT’s minimum guarantee of 75,000 container lifts annually, the agreement will support an estimated 400 direct local jobs and 1,060 total jobs statewide that will generate more than $72 million in personal income and nearly $7 million in state and local taxes each year, the port authority said.
   FIT’s agreement includes relocating its terminal within the south end of the port during construction for the Southport Turning Notch Extension project. The project will lengthen the existing deep-water turn-around area from 900 feet to 2,400 feet, which will allow for up to five new cargo berths. Construction is expected to begin in early 2017 and be completed by the end of 2019.

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